Even the world's second largest retail company wasn't immune from the effects of coronavirus. H&M has announced that in the wake of a 49 percent sales fall, they are now in talks with thousands of staff members regarding shortening work hours and. The news was reported by Reuters. "The spread of Covid-19 […]

Under Armour, Inc. has announced actions it is taking to address the financial impact of the COVID-19 pandemic. Additionally, the company said in a statement that the company’s board of directors has approved a previously planned restructuring initiative designed to rebalance its cost base to further […]

Primark parent company Associated British Foods (AB Foods) has announced it is cutting the pay of its leadership team in a bid to save costs and mitigate the impact of Covid-19. Primark CEO Paul Marchant has requested that his base pay be temporarily halved. AB Foods CEO George Weston and finance director […]

The Modist, once dubbed the Net-a-Porter of luxurious, modest fashion, has ceased operations and closed its e-commerce store. The London and Dubai based company founded by Ghizlan Guenez announced on Thursday it would stop trading as it could not withstand the financial pressures caused by the impact […]

During the COVID-19 pandemic, small and independent retail businesses are amongst some of the most vulnerable. The Council of Fashion Designers America (CFDA) have been doing their part to provide those in need with the crucial information and resources needed at this time to aid with concerns of financial […]

For the first quarter to February 29, 2020, Hennes & Mauritz (H&M) group’s net sales increased by 8 percent to 54,948 million Swedish krona (5,433 million dollars), while in local currencies, net sales increased by 5 percent compared with the same quarter the previous year. The company added […]

Arcadia Group, which owns brands Topman, Topshop, and Burton, has furloughed the majority of its staff in new measures to mitigate the impact of Covid-19 on the business. The company said all store employees have been furloughed since 21 March and “the majority” of its head office employees will be […]

A year after the acquisition by Golf equipment supplier Callaway, outdoor brand Jack Wolfskin continues its expansion abroad. The German company will "finally invest seriously and sustainably in North America and also in Japan," said CEO Melody Harris-Jensbach when talking to German business weekly […]

American Eagle Outfitters, Inc. has announced that in response to ongoing store closures due to COVID-19, the company is taking a series of actions to preserve financial strength including a suspension of its share repurchase program and deferred payment of the first quarter cash dividend; temporary […]

Lululemon Athletica Inc. has undertaken a range of actions and initiatives to support its employees as COVID-19 continues to impact the business. Understanding the pandemic may continue for the foreseeable future, the company said in a statement, stores in North America, Europe, Malaysia, Australia, […]

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